Mortgage Free By 40!!!

specialpotato

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I'm currently 29 living in Harrogate and trying to pay off my mortgage which has 26 years left on the term :poop:

My goal is to have paid off my mortgage which is currently at £140,000 within the next 10-11 years by supplementing my income with any money making schemes I can find.

This is going to be my monthly earning diary to keep track and hold myself accountable.

I started my passive income / side hustle journey around June 2020 and this is where I'm currently at.

June 2021 Earning Report:
Teepublic - £35.44
Redbubble - £145.89
Amazon Merch - £17.66
mTurk - £171.01
etsy - £40.72
UserTesting - £7.22

Total: £410.72
(Total does not include Tax deductions which I will be self declaring)

I hope this inspires someone! Any suggestions of other ways to earn money are appreciated. I've started with online surveys so I will hopefully have a more diverse update in July.
 
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Annie Beau

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well done with redbubble... ive earned a huge three quid on it, tbf i uploaded some designs which I crested when I first heard of it , forgot about it until I saw your post. Is your income from there over a range of items or just tees / hoodies?
 

specialpotato

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well done with redbubble... ive earned a huge three quid on it, tbf i uploaded some designs which I crested when I first heard of it , forgot about it until I saw your post. Is your income from there over a range of items or just tees / hoodies?
It was my little side hustle over lockdown when I was stuck in the house fed up. I've got my designs active on all of the product types. T-shirts and stickers sell the best but the designs/products people buy are so random.
 

specialpotato

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July 2021 Earning Report:
Teepublic - £84.80
Redbubble - £115.75
Amazon Merch - £26.94
Amazon mTurk – £12.51
Prolific - £26.67
Quidco - £11.01
Tide Referral - £75.00
Qmee - £50.40
TestingTime - £4.00
Nice Rebate - £4.98
Neevo £13.59

Total: £426.25
(Total does not include Tax deductions which I will be self declaring)
 
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mcp

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Prolific Academic is a decent earner for a survey site. Averages around £70 per month.

Streetbees - you do stories on manily things in your home for cash. Pet ones usually pay the best.

Coinbase has a number of tasks that pay you crypto - probably earned about $45 for doing these.

Two small but constant earners - everything you buy whether in person or online get a till receipt. Download two Apps - Shoppix and Storewards. They give you points for each receipt you upload/email to them. I reckon I make about £80 per year from this.
 
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Annie Beau

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It was my little side hustle over lockdown when I was stuck in the house fed up. I've got my designs active on all of the product types. T-shirts and stickers sell the best but the designs/products people buy are so random.
You seem quite nifty with the design-based stuff have you looked into KDP? Amyjay's KDP diary is on this forum, worth a look into if you're earning on Redbubble it'll probably be quite easy for you
 

specialpotato

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Oh wow. I've just had a look and Amyjay is making around £1000 per month from KDP. Thanks for the suggestion - I'll definitely check it out @Annie Beau!
 

cash4nothing

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You seem to be doing quite from your money making schemes. Well done. On the other hand, paying off your mortgage early is one of the most intelligent financial decisions you can make. Let me suggest you the following post to help you in your journey for both: money making ideas and paying-off your mortgage.

 

Frugalgal

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There are lots of YouTubers who talk about the FIRE movement which stands for Financially Independant Retire Early if you have heard of it?...They have some good suggestions, some more radical than others. My advice would be to put away any savings you have into an Index Fund which will pay you dividends like the S&P 500 via FreeTrade. General advice is to make your money work for you, instead of you having to work for money! I would also look at putting any savings into Bitcoin, Cardarno or Ethereum crypto currency using one of the FCA platforms like Coinbase Pro, or Swissborg. Crypto is high risk but very lucrative at the moment. I have also done matched betting where I have made over £2,000 in the last year.
 

Jon

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Do you not have to have a (large) set amount of money to 'make the money work for you' like If I just had £500 to invest I doubt that would totally change my life no matter where I invested it
 

Frugalgal

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I think people often think you have to have a lot of money to start investing and start saving for your retirement. I think it is never too early and so do a lot of other members of the FIRE community. I suppose we tend to believe in being savvy with money from the onset and try and build up savings. I invested £300 in Dogecoin a month or ago and saw it rise to £390 over night...but it has now gone back down and so I have reinvested it into Solana which appears to be a better bet at the moment for a quick earn. If I were you, I would also look at investing in the an ETF ISA account on FreeTrade like the S&P 500 where you can also get dividends on your investment which are then reinvested back into your funds and you will earn cumulative interest. I have learnt that the S&P 500 is a safer and surer bet than most other investment funds since it tracks such a diverse portfolio of the top 500 American Businesses and that will even out any losses over time. Life changing money is possible if you want to risk it on Meme stocks and Crypto, but yes...the more money you have to invest, the more you will earn.......
 
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rninja

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I'd caution anyone about investing in just the S&P 500 index. More prudent to invest globally in case we get a repeat of the Japanese stock markets crash.
 
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Jon

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Hey @specialpotato - Have you managed to give KDP a try yet as you mentioned above you were interested in doing since after @amyjay success!
 

specialpotato

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@Jon I'll be honest... I haven't! Looks like the market is pretty saturated so I think I'd need to put a lot of time in to get the sales. I did sign up to Telus after lurking the Lionbridge forum and I've just started as a SME so that's scratching my itch for now :D
 
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